Singapore share prices closed on Friday at a new all-time high with investor confidence energised by Wall Street's overnight bounce, dealers said. The Straits Times Index gained 0.22 percent or 7.73 points to 3,581.16, erasing the previous closing high of 3,579.35 points set on June 4.
"Today's run up was supported by Wall Street's rally and a lack of adverse news from the other markets," said a local brokerage dealer. Volume traded totalled 3.26 billion shares worth 2.25 billion Singapore dollars (1.46 billion US). There were 430 rising issues, 396 decliners and 661 issues were even.
For the blue chips, Singapore Airlines gained 0.30 to 18.70, Singapore Press Holdings added 0.02 to 4.38, ST Engineering jumped 0.08 to 3.70 and Singapore Telecommunications fell 0.02 to 3.36. In the technology sector, Chartered Semiconductor added 0.02 to 1.37, STATS ChipPAC jumped 0.03 to 1.67, UTAC gained 0.02 to 1.06 and Creative Technology fell 0.25 to 7.75.
Shipping giant Neptune Orient Lines advanced 0.38 to 4.86, after J.P. Morgan upgraded its rating on the stock to "overweight" from "neutral." Among property stocks, CapitaLand rose 0.05 to 8.10, Wing Tai Holdings gained 0.10 to 3.94 and City Developments fell 0.20 to 17.30.
Singapore Exchange Limited rose 0.15 to 9.95 after hitting a new all-time high of 10.30, on expectations that the bourse will maintain the daily trading volumes of above 1.0 billion shares a day.
The shares may rise further on Monday after the Tokyo Stock Exchange (TSE) announced after the close of trading on the local market that it had acquired almost five percent of Singapore Exchange. The TSE said on its website it had purchased 53.051 million shares in Singapore Exchange Limited, or about 4.99 percent of its issued share capital, and had informed the exchange after the close of trade.